H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released .for Publication Friday morning, December 5*19^-7) K«ij..l December k, 19^7 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended December'3 member bank reserve balances decreased $83*000,000. Reductions in member bank reserves arose from a decrease of $10l,,6oO,bo6 in'Reserve Bank credit 'and increases of $92/000/000 in money in cir culation, $12,000,000 in Treasury cash, .and $15,000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by an increase of $83*000*,000' in gold stock and a decrease of $58,000,000 in Treasury deposits with Federal Reserve Banks** Excess reserves of member banks* pn December 3 were --^estimated to be approximately $880,000,000.. Holdings of loans, discounts and advances decreased ol09,000,000 and of t United States Government securities SII9',000/000. The decrease in holdings- of United States, Government securities reflects decreases of $177*000,000 in certifi cates and $lli9,000,000 in bills and'increases of $1U9»000>000 in bonds and $58*000,000 in notes. Changes in member bank reserve balances and related items during the week and the yestr ended December 3* ^9*4-7> were as follows: Increase or decrease since December 3# November 26,'December k» 19^7 19^7 19^6 "(In millions of dollars) U. S, Government' securities 22,120 — 119 -1 ,768 Loans,, discounts; and advance a. 266 -. 109 + 19 Other Reserve Bank credit * " ' Wi + 12'if. *• - 7 Total Reserve Bank credit 22.,830 - loU -1 ,755 Gold stock 22,680 ' + 83. +2 ,203 Treasury'currency * 1^553 • " 1' + 3 Member bank reserve balances 17,038 - 83 + 816 Money in circulation 28*817 + 92 - 89 Treasury •csCsK ' • l:$3k2 + 12 - 9^6 Treasury deposits with F.R. Banks 1,256 - 58; f 577 Nonmember deposits and other F,R # accounts 1-,610 + 15. + 93 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

.' STATEMENT" ;0F CONDITION1 OF THE TftE|VE F3LERAL RESERVE BAMS; COMBINED H.iwl(a) (In thousands of dollars) Inc rease or de; crease since December 3, November 26, December 1+, 19U7 19U7 19U6 A S S E TS ; Gold certificates 20,73li,i70 + 7l+,000 +3,212,996 Redemption fund for *\ R. notes 683,868, + . 90Q - 102,591 Total gold certificate reserves .21,1*18,038 + 7a,900 +3,110,1+05 Other cash 251,165 11,1+56 5,387 Discounts and advances 262,581 108,110 + 16,90!+ Industrial loans 3,61+1+ . 1,077 + 2,568 Acceptances purchased U03 226 ' + U03 U S Govt, securities: # # Bills 12,520,5^3 11+8,735 -2,51+0,577 Certificates 7,066,1+05 177,000 - 511,607 Notes 1,1+56,250 + 57,500 + 561,150 Bonds '1,076,653 + il+8,6oo • *• 323.21;3 Total U« S, Government securities 52,119,831 - 119,635 -1,767,791 Total loans and securities 22,386,259 - 229,01+8 -1,71+7,916 Due from foreign banks . 95 7 F R. notes of other banks # 111,1+1+5 - ll+,267 1,872 Uncollected items 2,770,519 + 158,897 + 36U,856 Bank premises 33,168 33 -+ 631+ Other assets 75,761+ + U,915 + 25,121+ TOTAL ASSETS 1+7,01+6,253 - 16,092 +1,71+3,837 L I A 3 I L IrT I E S Federal Reserve'notes 2^,706,^91 + 70*756 - 137,526 Deposits: Member bank - reserve account 17,038,1*99 - 82,292 + 816,71+1+ U S,Treasurer-general account * # • 1,2 56, oil l - '57,828 + 576,551 Foreign 166,396 + 15,696 - 11+5,379 Other 519,276 * 799 + 213,905 Total deposits 19,280,212 - 123,625 +1,1+61,821 Deferred availability items "2,326,759 + 3li,2l+0 +' 371,716 Other liabilities including accrued dividends 20,226 179 + 6,218 TOTAL LIABILITIES 1*6,333,688 - 18,808 +1,702,229 C A P I T AL 'k C~C O.UNI S Capital paid in 19^,730 182 + 9,682 Surplus (Section 7) 1*39,823 + 01,1+68 Surplus (Section 13b) + 27 27,U55 Other capital accounts - 1+9,569 TOTAL LIABILITIES AND CAPITAL ACCOUNTS II7,OU6,253 - 16,092 +1,71+3,837 Ratio of gold certificate reserves to deposit and F R note # # liabilities cpmbined U8 .1% .2% 5.8$ Contingent liability on bills purchased 2,8U1 6k 3,U89 for foreign correspondents Commitments to make industrial loans 2U 1,005 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

II. 1*. 1(b) STATEMENT OF CONDITION'OF .{THE FEDERAL RESERVE BAMS OK DECEMBER 3, lgJ+7 (In thousands; of dollars) A S S E TS Total B,ost,on New York Phila. Oleve, .Rich..; Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas SanFran, Gold certificates 20,7314,170 750,067 6,180,758 lOl: 1,652 1573, 497 1122,150 979,905 l423l,5l;7 616^162; 1*76,1*77 70l*,687 501,799 2755,^-69 Redemption fund for F. R. notes 683,863 5U,406 122,11*1 61,220 75,111; 60,1*63 40,768 86,1|87 1+6,820 22,92); 35,710 26,266 51,529 Total gold certificate reserves 21,1*18,038 80U,ii73 6,302,899 1102,072 ii4U8,.6ll 1182,633 1020,673 4318,031* S62,982: 1*99,1*01 740,397 528,065 2806,998 Other cash 251,165 24,596 1+1,037 10,302 19,739 15,256 21,838 37,!i9l H.,988: 5,732 0,728 13,740 37,718 Discounts and advances 262,361 11,981+ 55,261 12,187 114,029 12,517 15,250 16,276 34,598 2,595 38,523 8,9l47 40,1*14 Industrial loans 3,61*1* 1,1*82 — 25 2,157 acceptances purchased 1,03 403 U. 3. Govt, securities} Bills 12,520,5U3 882,107 3,531,957 879,610 ill* 5» 1*93 705,537 589,585 l6i*7,896 606,260 329,483 575,565 454,730 1172,320 Certificates 7,066,1*05 454,4^7 1,516,376 1*80,748 672,111 95lu,H9 418,370 995,432 !*li*,252 237,750 540,570 587,909 634,261 iMotes 1,1*56,250- 93,663 -3l2>u97 99,073 138,515 :10.5,949 .36,21.9 205,. 139 85,370 1*8,991 70,181* 79,941 130,709 Bonds 1,076,635 69,21*7 231,035 73,21*7 102,1*07 . 78,330 63,743 151,665 65,116 56,220 51,888 59,102 96,-635 Total U.S.Government securities 22,119,331 11*99,5114 5,591,865 1532,678 2058,556 11*03,935 1157,917 3000,130 1168,993 652,1*21* 1033,2.7 931,632 2033,925 Total loans and securities 22,586,259 15H,»493 5,61*7,529 1546,3!*72072,585 1416,277 1175,301;'.3016,406 1203,596 655,019 1076,730 990,629 2074,339 Due from foreign banks 95 o 1/ 26 9. -% 1; - -3- .4 3 9 F.R, notes of other banks 111,1*1*5 . 4,106 lI*~,62o 5,681* 6,056' 12,11*7 12,359 13, 6,962 6,51-5 6,896 . 3,931 18,283 Uncollected items ,770,319 21*0,008 548,785 191,251 278,572 21*0,331; 162,169 435,550 122*,921 75,699 Ui3,66l 110,054 -2il*,3i5 Bank premises 35,168 1,2.1*5 8,257 3,159 5,168 . 2,61*1* 1,1487 3,ol;5 1,976 1,211 2,1*56 801 1,719 Other assets 75,761* 5,131 . 15,7143 ~, 4,805 5 5,350 li,526- 10,81*5 • 1;,737 > • 2,1*17 3,605 4,237 7,133 1 ,'-y TOTAL ASSETS 1*7,01*6,255 259io65 12,578,896 286!*,1*283337,975;28?1*,61*6 2598,560 7355,271 2020,166 121+5,997 1987,1477 1651,460 5160,514 r l/ After deducting $69,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.)+.l(c) STATI&JiJNT OF CONDITION OF THE FBD3E*'h R<\,i>i2C3Il BA::KS Otr DECEMBER 3, I9I+7 * (In thousaru is cf dol! iurs) L I A B I L I TI E S Total Boston Hew York Phi la. Clove. Rich, Atlanta Chicago St,Louis Minn. Ksi ns.Cy. Dallas Ss anFran. rr**eedd..--rraa**ll RReesseerrvvee nnootteess 21+, 706,1+91 li+61+,78lt 5,685,870 l67l+,890 2126,7^9 171+7,967 1398,612 1+621,782 1131*159 625,282 91*6,785 629,31+0 2653,271 DDeeppoossiittss;; MMeemmbbeerr bbaannkk --rreesseerrvvee acct. 17,038,1+99 71+3,633 5,314*, 226 832,801 1263,650 7li8,688 735,97U 253U,520 635*214+ h50,797 801,706 835,75U 2111,506 U, 3 • T r J asure r - p:ene ra 1 acct. 1,256,01+1 loi+,772 252,1+65 109,951 110,728 109,182 55,523 165,822 93,590 80^571; 71,250 U6,559 55,605 foreign 1+66,396 25,662 1/I9l+,3U9 52,392 37,191 19,595 16,396 5ii,386 13,997 9,993 13,996 13,197 35,237 519,276 1 / r-» i+ii5,66J+ 1,733 8,01+0 3,189 1,379 3,632 6,619 11,,996600 22,,778877 ____ 11,,771122 37,907 U,t/?i+ Total deposits 19,280,212 878,721 6,236,721+ 976,877 111 19,609 680,651; 809,272 2753,360 7li9,li50 55114433,,332277"" 888899,,773399 889977,,222222 221+0,255 referred availability items 2,326,759 200,666 1+28,536 153,830 225,655 209,133 159,14*3 356,221+ 112,363 58,161; 123,708 98,868 202,169 Other liabilities inc1 udin? accrued dividends 20,226 1,225 5,821+ 1,308 2,193 1*031 857 2,998 807 5U0 866 828 1,7149 TOTAL LIABILITIES 1+6,333,688 251+5,396 12,356,95U 2306,905 3772,206 2630,785 2363,181+ 7739,361; 1993,779 1227,315 1961,098 1626,258 5097 ,iM Capital paid in I9li.730 11,227' 68.1+73 i!+.36!+ 10,055 8,190 7,U67 23,723 6,351; It ,281 6,1+90 7,270 18,036 Surplus (Section 7) U39.323 27,557 136,519 51+, 720 l+i,39li 20,676 18,663 65,078 16,577 10,997 15,729 13,777 38,106 burplus (Section 13t>) 27,.'455 3,012 7,253 i+,1+09 1,007 3,325 762 1,1+29 521 1,073 1,137 1,307 2,11+0 Other •apital accounts 50,557 3,071 9,667 3,950 li,513 3,670 3,281+ 5,677 2,935 2,331 3,023 2,81+8 14,788 TOTAL LIABILITIES AND CAPiiAL ACCOUNTS 1;7,01+6,255 2591,063 12,578,896 286!+,1+23 3057,975 28714,61+6 2393,360 7035,271 2020,166 1215,997 1987,1477 1651,1460 5160,511; Contingent liability on bills purchased for foreign correspondents 2,81+1 182 2/ 909 230 261+ 139 116 386 100 71 100 9U 250 Coriffpitirunts to make industrial loans 7,<4l45 773 1,355 86 l+oo 352 580 3,750 — 1147 F.R, notes outstanding 25,399,1409 1506,702 ,81+2,1+58 1726,675 2191,200 1706,196 ll+i+5,766 1+708,296 1171,903 639,075 966,61+1+ 653,038 2756,176 Collateral for F. It. notes held by F.It.Agents* Gold certificates 12,599,000 1+1+0,000 3,570,000 525,000 695,000 650,000 675,000 3oUo,obo 315*000 190,000 280,000 169,000 2050,000 eligible paper 180,035 9*565 ill, 665 9,125 ~ 10,1+65 — ~ 33,275 1,650 37,200 — 37,088 U.S.Gevt. securities 15,1+50,000 1100,000 2,1+00,000 1200,000 1500,0901150,000 300,000 1700,000 950,000 1+50,000 700,000 500,000 1000,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES VJithin 16 to 31 to 61 to 9I days to 6 months -1 to 2 2 to 5 Over Total 15 days 30 days 60 days 90 days 6 months to 1 year years years 5 years Discounts and advances 262,501 210,238 29,535 21,1+21+" ~7oo3 28 23 Industrial loans 3,614; 3,579 25 1 1 k 11 23 acceptances purchased I405 I403 U.S.Govt, securities 22,119,851 3,287,513 2,819,333 5,1449,008 3,811,1+69 863,551; 5,020,1+21 12,000 iJh,%o 722,193 1/ After deducting $271,952,000 participations of other Federal Reserve Banks, 2~/ After deducting $1,952,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis